Know this:  the #1 reason why landlords fail according to the American Apartment Owners' Association is failure to manage to the lease. 

I've built relationships with property managers who have distressed properties in their portfolios that can communicate directly to owners. 

My proposal is to do the following:1) Create an LLC in which my partner and I are both owners/operators2) Have the title of the property put into the name of the LLC via quitclaim deed3) Have the Operating Agreement of the LLC outline ownership based on shares ownership model.

Honestly, I've given up on finding cashflow anywhere close to the city due to rates and prices, BUT some other opportunities you may want to consider are:Live in flip - mentioned earlier in this thread, always a solid option in any market.Condo conversions - good money to be made from this and since they're a little trickier than a traditional flip there tends to be more inventory available that would allow for a profit.ADUs - come February 2nd, ADUs are allowed BY RIGHT on any SF property in the state, owner occupied or not.

Pricing - If you cannot check your competitions price and adjust yours daily you may want pricing software (PriceLabs probably best for single listing owners/operators). 

Eventually people die off and the homes go up for sale cheap, get abandoned and the park owner picks em up cheap and takes in the extra little bit of cash for the POH rental. 

The fact is that anyone who takes, leads, or carries away the property of another with the intent to convert it to their own use or deprive the owner of it is committing a crime. 

One was purchased a  few years ago by an out-of-state owner who has decided to sell and has doubled in value.

This is a common misconception but we're an online platform where the owner chooses their own price and selects their own tenants.

There are DSCR lenders will allow only a single 20 or 25% owner of an LLC to sign a Personal Guarantee (other owners are not on the loan, or liable for the loan).